Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Seattle, WA 98144

    • Commercial land
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Oct 08, 2021
    $15,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2581257
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details

    Lot size
    0.35 lot acres
    Zone code
    NC3-75 (M)
    Property type
    Commercial land
    APN
    388190-0515
    APU
    3881900515

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.304
    Latitude
    47.5867
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $22,558
    $2,424,800
    $0.00
    $2,424,800
    -
    $2,424,800
    $0.00
    $2,424,800

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      3520 Rainier S Ave

      VACANT COMMERCIAL LAND • 0.08 Acres
      3520 Rainier S Ave, Seattle, WA 98144-6922
      View Details
    • Value Estimation by Request
      0.13 Acres

      1227 Jackson St

      VACANT COMMERCIAL LAND • 0.13 Acres
      1227 Jackson St, Seattle, WA 98144-2018
      View Details
    • Value Estimation by Request
      0.21 Acres

      2500 King St

      VACANT COMMERCIAL LAND • 0.21 Acres
      2500 King St, Seattle, WA 98144-2347
      View Details
    • Value Estimation by Request
      0.34 Acres

      20th S Ave

      VACANT COMMERCIAL LAND • 0.34 Acres
      20th S Ave, Seattle, WA 98144
      View Details
    • Value Estimation by Request
      0.11 Acres

      200 12th S Ave

      VACANT COMMERCIAL LAND • 0.11 Acres
      200 12th S Ave, Seattle, WA 98144-2084
      View Details
    • Value Estimation by Request
      0.14 Acres

      Seattle, WA 98144

      VACANT COMMERCIAL LAND • 0.14 Acres
      Seattle, WA 98144
      View Details

    Similar Nearby for Sale

    • $1,700,000
      14,000 SF

      Mount Baker Development Site

      Corner lot suitable for mixed-use development in Opportunity Zone.
      2307 Rainier Ave S, Seattle, WA 98144
      View Details
    • Contact for pricing

      Transit-Oriented Development Opportunity in Seattle

      Mixed-use multifamily development site near Mt. Baker Light Rail.
      3109-3111 Rainier Ave S, Seattle, WA 98144
      View Details
    • $5,038,000

      Land with Territorial Views

      Land suitable for commercial, multi-family, or townhome development.
      2105-2107 25Th Ave S, Seattle, WA 98144
      View Details
    • $1,150,000
      2,376 SF

      Seattle Redevelopment Opportunity

      2,376 SF building on 0.16 acres near transit.
      3300 Martin Luther King Jr Way S, Seattle, WA 98144
      View Details
    • $999,950

      Downtown Seattle Redevelopment Site

      Prime Central location, 3600 sq ft lot.
      324 25Th Ave, Seattle, WA 98144
      View Details
    • $1,295,000
      2,810 SF

      Beacon Hill Development Opportunity

      Development site with income-producing duplex in North Beacon Hill.
      1306 S Bayview St, Seattle, WA 98144
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      31,720 SF

      Seattle Office Space: Historic Charm

      31,720 sq ft, Iconic Beacon Hill location.
      1200 12Th Ave, Seattle, WA 98144
      View Details
    • $22 SF/Yr
      8,826 SF

      Rainier Ave S Executive Office Suites

      Seattle Office/Retail Space: 3 Suites Available
      502 Rainier Ave, Seattle, WA 98144
      View Details
    • $22 SF/Yr
      700 SF

      Seattle Retail Space with Storage

      700 SF retail space with 1400 SF basement storage.
      3217 Beacon Ave S, Seattle, WA 98144
      View Details
    • $1,200 /Mo
      2,860 SF

      Industrial Warehouse Space Available

      Grade-level industrial warehouse with easy access to I-5 and I-90.
      1128 Poplar Pl S, Seattle, WA 98144
      View Details
    • $45 SF/Yr
      2,164 SF

      Capitol Hill Corner Retail Space

      Prime retail space in the heart of Capitol Hill.
      1404 12Th Ave, Seattle, WA 98144
      View Details
    • $27 SF/Yr
      3,031 SF

      Retail Space at Rainier Court

      Retail space available for lease, former USPS office.
      3642 33Rd Ave S, Seattle, WA 98144
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Seattle, WA 98144
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.